Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Strategy Briefing

World Market for Packaged Food

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

The rapid global “snackification” of packaged food has led consumers to be more selective. Nutrition has moved front-of-mind, with ingredients increasingly expected to have natural benefits. The growth of packaged food to 2024 should be fuelled by consumers’ desire to enjoy smaller, more regular snacks and embrace more direct food delivery models, such as subscription boxes and ghost kitchens. While flexitarianism is here to stay, sustainability will warrant unprecedented innovation efforts.

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Key Findings

Expected long-term implications

Functional nutrients: In consumers’ minds, nutrition is no longer the remit of medical professionals, but a component of lifestyles. More natural foods, and the natural nutritious benefits of ingredients, are sought.

Permissible indulgence: A greater focus on nutrition and on mental health results in more legitimacy for food indulgence moments. Food enjoyment is increasingly linked with novelty and a more premium image.

New value equation: As low-income earners become a wider part of global demographics, packaged food increasingly needs to be affordable. Nutritional credentials must be part of the formula to combat micronutrient deficiency and obesity.

Food delivery: The retailing of packaged food will include more streamlined routes to consumer and more personalised services. E-commerce and subscription models are a major avenue, while packaging-free aisles and stores will gain visibility.

Plant-based eating: Propelled by both health and environmental trends, plant-based foods are fast becoming more widely accepted. Meat analogues and dairy alternatives will be key benefactors.

Sustainability: Plastic waste represents the tip of the iceberg. The wider sustainability challenge warrants a holistic, long-term approach that not only looks at packaging as a whole; but also addresses climate change, poverty and food waste issues.